Home Forums Hunting & Shooting Hunter's Campfire Obama wants to increase US oil production

Because oil companies have ways of returning funds in the most discreet form. Most of that money will reappear at election time to boost his party. The drilling part is also confusing to me since both Bush's wanted that also.

My understanding on the Bakken, is the pipe lines are not in place to remove this oil. Once oil drills one well, the lease is held. No worries about loosing the lease.

Actually, it costs about $6 million to drill and complete a Bakken or Three Forks well. Pipeline capacity is limited, but is being increased, and a lot of oil is shipped out by rail. Rail is a good option, because the oil can be shipped essentially anywhere, while pipelines only go to certain refineries. There are no Bakken wells being "capped" to my knowledge, nor is there any oil just setting around because it can't be shipped. The operator I work for is behind on frac jobs, because we can drill them quicker than they can frac them! There are 175 drilling rigs drilling this week in North Dakota, most all are drilling Bakkens or Three Forks wells.

The misunderstandings about oil production are simular to that of illegal drugs. Those that are not close to it, simply can't comprehend the shear magnitude of it. A single refinery may handle 28 million gallons a day.

Say one thing, do the opposite. We are indeed living both 1984 and Atlas Shrugged.

Brain dead would be a compliment to a liberal,Marxist,communist.Parroting liberal talking points completely devoid of truth is what we've come to expect from people such as yourself.When Clinton left office the national debt was 5.6 trillion.When George W. Bush left office the debt was 9.5 trillion.In just 18 months of the Obama administration,the debt had ballooned to 14.5 trillion.

Every true conservative criticized Bush for his profligate spending.So Obama deserves even more criticism for spending at a rate that is 400% higher than Bush.

We all know the truth eludes liberals so let me be the one to enlighten you.At the end of 2006 the unemployment rate was 4.6%.After two years of a Democrat controlled Congress, 2007 and 2008,the unemployment rate soared to 8.6%.So the shambles,to which you referred,was created by the Dems who controlled domestic legislation during those years.

So Luke, let me take a different spin here. You sold/worked for JD for many years.

While JD has a great reputation, tell me why my Murray riding mower has been running since 82 just fine. I paid a lot less for it than a comparable JD and it still runs fine at a lot less cost. One could assume that JD is overpriced then. Selling something marked up that a cheaper product does as good and as long.

And we have a 60s Massey Ferguson, again cheaper than a comparable JD and its still runing just great as a farm tractor. Even though a huge tree fell on it some years back and I had to find repalcement metal parts. One could say that JD is overpriced, offers nothign that another brand at a lesser price would do.

So then if you follow that theory, one could say JD profits are also obscene for overpricing a product.

Of course I don't agree with what I"ve posted about overpricing, just that I choose not to run JD products when others of the same cost work fine.

Of course we could get the govt to set all pricing of something like a JD riding mower at the same price as a Murray is. I"m sure that would go over good too.

I wrote the whole thing.

luke,

One thing to remember that domestic drilling and production = jobs... which will help the economy.


If nothing else this will help the dollar and help the price of oil.

Why don't your try to convert us to your point of view using facts instead of feelings, ignorance and socialist ideology.

Our economy is based on the capitalist system where those who provide a product are compensated by those who need that product. The oil companies operated on a huge scale because they do huge projects which require billions of dollars. Each dollar that people invest in oil companies requires a return on investment. The oil companies have a much lower rate of return on the share holders investment than many other industries such as the software industry.

When there is an imbalance between supply and demand or the supply is threatened the price goes up which encourages investment to increase the supply. You should be thankful for this system which causes companies to respond to the needs of consumers. The only alternative is the fascist system that was proven to be a failure in the USSR.

huh, number i must have in my head must be only part of it.....maybe im thinking cost of lease, lining up permits, and such before they even start drilling instead of once they have the hole punched.....i know my $1.5 mil is a solid number related to something, now im just not sure what

It can cost 1.5M just for Seismic.

Snake

Couldn't really say it any better than that FOsteology. His actions directly oppose his words, but that won't phase those idiots drinking his koolaid. Just look at what he has done to gulf oil exploration.



Uh, bea175, you do realize trying to teach a retard to think clearly is an exercise in futility ...

Makes sense. At $100/bbl producers will sell every drop they can possibly sell.

This is so asinine I can't even think of a good start.....

rost495, I used the JD analogy as a comparison of profits, and how a company as large as Deere had their best year ever at that number. The comparison could be made to many other companies. I did not mean to infer they were the only company making good iron. I sold against a lot of companies that make excellent iron. I am not the spokesman for the JD Co. The question about big oil is, do they need to be assisted by the American taxpayer to be viable in business? I say no. Even John Boehner called for and end to it, before he said he was wasn't.

Oil companies will make their profits, and they will go offshore if that's what it takes. Then what do you think gas will cost?

I'm skipping all the technical and financial talk in this thread.

Obama's speech is campaign rhetoric, nothing else.

He has no intention on making us self sufficient.

That's why I hafta stay away from the keyboard at times..

This Luke character's been swallowing the Leftie Kool-Aid so long he's addicted.. Is there a 12-step program for that? Hehehehe..

EXACTLY. That's what it boils down to - it's campaign BS and I truly mean BS.. Whatever he says - the truth is 180 degrees from it..

My bumpersticker says it all:

so... after he drove the off shore drilling rigs away to Brazil?
Now he wants more production?

No, now he wants more profit.
He is deeper in the pockets of big oil than W ever was.